The Dow Market Happenings For Monday, June 23, 2014

Dow stocks at 52 week highs include American Express (AXP), Caterpillar (CAT, Chevron (CVX), Intel (INTC), Johnson & Johnson (JNJ), Coca Cola (KO) and Exxon Mobil (XOM). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open down -5 points.

Friday, the Dow closed up +25.62 (+0.15%) at 16,947.08.

Year-to-date the Dow is up +2.23%.

Dow stock winners Friday included Caterpillar (CAT) +1.99% and Johnson & Johnson (JNJ) +1.41%.

Dow stock losers Friday included Disney (DIS) -1.13% and Travelers (TRV).

Friday there were 19 Dow stock winners.

Friday, the Dow Jones Industrial Average and the S&P 500 both broke records. Friday marked the Dow’s 11th record close for the year and is 53 points away from crossing the 17,000 mark for the first time ever.

General Electric (GE) shares were higher in premarket trading after Alstom (ALSMY) agreed to sell its energy operations to the U.S group, under a revised proposal that gives the French government a minority stake in some parts of the business.

European stocks were lower and Asian markets ended mixed.

The national average price of gasoline is up four-tenths of a cent over the weekend at $3.683 per gallon.

Earnings Reports.

Nike (NKE) will report earnings on 6/26/14 after the market close.

Notable earnings reports from Friday include:

CarMax (KMX) reported first quarter EPS of $0.76 on revenue of $3.75 billion, compared to last year’s EPS of $0.64 on revenue of $3.31 billion.

Darden Restaurants (NYSE: DRI) reported fourth quarter EPS of $0.84 on revenue of $2.32 billion, compared to last year’s EPS of $1.01 on revenue of $2.30 billion.

Stocks reporting earnings today include:

Micron Technology (MU) is expected to report third quarter EPS of $0.68 on revenue of $3.87 billion, compared to last year’s EPS of $0.04 on revenue of $2.32 billion.

Sonic Corporation (SONC) is expected to report third quarter EPS of $0.29 on revenue of $149.77 million, compared to last year’s EPS of $0.26 on revenue of $146.63 million.

Today’s Featured Dow Stock

E I du Pont de Nemours and Co. (DD)

E I du Pont de Nemours and Co. (DD) is up +5.33% year-to-date.

Financial Calendar

0830 ET May Chicago Fed activity index expected +0.52 to 0.20, Apr -0.32.

0945 ET Preliminary Jun Markit manufacturing PMI expected -0.4 to 56.0, May +1.0 to 56.4.

1000 ET May existing home sales expected +1.9% to 4.74 million, Apr +1.3% to 4.65 million.

1100 ET USDA weekly grain export inspections.

1500 ET USDA May Cold Storage.

1600 ET USDA weekly crop progress.

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